Long term career in DCM
I'm currently analyst 2 at a top 3 BB sitting on the DCM desk. Before I started FT, my goal was to be in LevFin since my internship was rotational, with long-term plan to be in PE. Things happened, and I got staffed on 2 DCM sectors since - first FIG then infra DCM. It's hard to believe there are ppl who throw shade at this desk when it's objectively one of the best places to be. Total comp as an 1 was £102k and I never had to work +70 hours a week, most weeks average 60. The client fatigue is virtually nonexistent, and the pipeline seems more secure than other divisions. I hardly feel any burnout; when I do, I just take time off and no one is ever bothered.
It's obviously clear to me that staying in DCM means no modelling or transactions outside a very specific direction (IG markets) and therefore no viable path to PE, HF, etc. But this is a tradeoff I'm happy to take for specialisation, WLB and stability.
Am I not ambitious enough for wanting a long-term career on this desk? Is it also risky to bet on the viability of becoming Dir/MD from where I am now?
bump
do you, why not
There's nothing wrong with having a career in DCM / ECM, whichever group. Anyone who says otherwise has a very inexperienced / narrow perspective.
These are generally great gigs and a lot of people do very well. I also don't think people realize there's a world outside of banking / high finance that a capital markets skillset is really valuable (i.e., in the fintech space or any start up where you have the skillset to bring capital in the door).
Also most people don't even know what they want to do 2-3-5-10 years into the job. Most D / MDs in IBD don't even want to stay in their roles but do so because of a variety of reasons.
If this path suits you then go ahead and continue down this path. You never really know where you'll end up in 3-5 years and maybe something better comes along.
Do you see DCM a great start point to Fintech? May I ask why? Many thanks!
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